Los Angeles City Employees' Retirement System related stories
All articles and analysis
LACERS mulls changes to private equity portfolioThe $12bn system is reviewing a new strategic plan that could see LACERS invest more in distressed debt and consider secondary sales of non-core investments.
- LACERS commits $20m to Insight Ventures
The California pension system formed a new relationship with Insight Ventures, committing to its eighth fund, which has a 4% GP commitment.
- LACERS commits $20m to ACON
The $12bn pension committed to ACON’s third fund, which closed on $751m in May.
- LACERS narrows private equity consultant search
The retirement system will continue working with its existing advisor Hamilton Lane or hire Portfolio Advisors as its new private equity consultant.
- LACERS takes the High Road for $25m
Lower mid-market firm High Road Capital Partners, whose maiden buyout fund is currently showing a net IRR of 17 percent, has collected $286m for its second fund.
- Friday Letter Relationship scars
The SEC’s ban on unregistered placement agents is a step forward for the fundraising market, but it doesn’t erase scars left by the pay-to-play scandal. Meanwhile, controversy surrounding recent comments made by a Blackstone executive further highlights the complex relationship between private equity firms and one of their key sources of capital.
- LACERS bets on secondary market
The $10.8bn system recently committed to Coller Capital as a way to ‘diversify existing private equity portfolios, obtain exposure to previously restricted funds and participate directly in select investments’.
- LACERS builds new relationships
The $10.8bn pension system has made first-time commitments to four managers since June as it works to diversify its portfolio and shift exposure from large-cap funds to small and mid-sized funds.
- Rhode Island gets on board EnCap’s latest fund
The state’s investment commission approved committing $20m to EnCap’s Fund IX, which is targeting $4.25bn and already has the support of several public systems in the US.
- LACERS bumps allocation to PE
The $10.8bn retirement system shook up its asset allocation mix at its last meeting, increasing its target to private equity to 12% of total assets.